Developing a cost statement framework for SMEs: a tool to enhance selling price prediction and profitability

Razak, Syuhaila and Nik Wan, Nik Zam and San, Suzana and Saidi, Noraida (2025) Developing a cost statement framework for SMEs: a tool to enhance selling price prediction and profitability. Global Accounting Innovation Showcase (GAIS) 2025 Extended Abstracts, 1: 19. pp. 83-86. ISSN 9786299634003

Abstract

Small and Medium Enterprises (SMEs) struggle to set the right selling prices because they can't access complex costing tools and methods. This project introduces a practical and user-friendly cost statement framework designed specifically to help SMEs predict selling prices effectively. By breaking down fixed costs, variable costs, and overheads, the framework makes simpler cost allocation and provides a clear structure for determining profit margins. This revolution integrates basic accounting principles with predictive analytics to support data driven decision- making. Additionally, the framework offers customization options to cater to different industries, ensuring significance and flexibility. The goal is to enable SMEs with the tools needed to improve pricing strategies, improve financial performance, and gain a competitive edge in the market. By bridging the gap between traditional cost management practices and modern pricing needs, this project provides a cost-effective solution to adopt business growth and sustainability.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Razak, Syuhaila
syuhaila@uitm.edu.my
Nik Wan, Nik Zam
UNSPECIFIED
San, Suzana
UNSPECIFIED
Saidi, Noraida
UNSPECIFIED
Subjects: H Social Sciences > HD Industries. Land use. Labor > Small business. Medium-sized business
H Social Sciences > HF Commerce > Accounting. Bookkeeping > Cost accounting. Activity-based costing
Divisions: Universiti Teknologi MARA, Kelantan > Machang Campus > Faculty of Accountancy
Journal or Publication Title: Global Accounting Innovation Showcase (GAIS) 2025 Extended Abstracts
ISSN: 9786299634003
Volume: 1
Page Range: pp. 83-86
Keywords: Business enterprises, Cost accounting, Small business
Date: 25 July 2025
URI: https://ir.uitm.edu.my/id/eprint/124753
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